Later openings offset by Kāinga Ora low‑deposit support
ASB is pushing back opening times across its branch network, as more customers move online and the bank rapidly embeds artificial intelligence (AI) across its operations.
The bank has notified customers that all branches will start opening at 9.30am from Monday to Saturday, half an hour later than current opening times, RNZ reported.
“This will allow our teams more dedicated time for training and development, so that they can keep providing great support to our customers. Opening hours on Sundays and at sites that operate half-days will not change,” ASB told customers.
The timing follows a flat half‑year result, with net profit edging up to $765 million from $763 million a year earlier. The shift also comes as CEO Vittoria Shortt makes AI a core productivity and customer‑experience lever, to “leverage as much as we possibly can” from the Commonwealth Bank of Australia group, which is “being very proactive and understanding both the opportunities and the risks with AI.”
Most customers now bank by app, not at the counter
Consumer NZ research underlines why ASB is comfortable rebalancing how it serves customers. Its latest banking survey found most people primarily deal with their bank via mobile apps, with only 4% saying their main way of accessing services is a physical visit to a branch.
For those who still rely on face‑to‑face banking, reduced hours remain a flashpoint. Consumer NZ said that among people who reported a problem with their branch in the past 12 months, “almost one in five of those problems were because of things like the branch being closed or reduced hours.”
Despite this, switching remains rare: “only 3% of people changed their primary bank in the previous 12 months,” and 15% of those did so due to branch closure.
New first‑home product as ASB reshapes service model
ASB has also just added the Kāinga Ora First Home Loan to its line‑up, allowing eligible first‑home buyers to get into a property with a 5% deposit, with loans underwritten by Kāinga Ora – Homes and Communities.
In a media release, ASB executive general manager personal banking Adam Boyd said “Homeownership is a cornerstone of financial wellbeing and security for many New Zealanders… [this] helps to get more people into their own homes without the challenge of saving a large deposit while managing everyday expenses, like rent.”
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